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Jul 6, 2009 5:00am EDT
's sentencing of ponzi schemer bernie madoff, one chapter of the multi-billion dollar fraud has come to an end. but for the victims who are trying to recoup losses and for feeder funds under fire for their role in allowing it all to happen, the scandal is far from over. "i don't think that there's any question that we're in about inning 3 of a 9 inning ball game. bernie madoff is done. now the question becomes, who else are the prosecutors targeting. in addition to the 150 year sentence handed to bernie madoff, essentially the top of the pyramid scheme, the s-e-c has filed charges against cohmad secuirites plus its top executives, and money manager stanley chais for their roles in the fraud. "prosecutors are really dotting their 'i's' and crossing their 't's' . it may take a while, but i expect to see a dozen indictments coming down in the next 6-12 months." securities fraud attorney andrew stoltmann believes the so called feeder funds, that passed along investors money to the madoff hedge fund, will face srutiny for failing to do proper due dilligence. what we're seeing is that the feeder
FOX News
Jul 29, 2009 3:00pm EDT
a candid interview with bernie madoff, in prison in north carolina. in his first on the record set down he said that he could not believe that the scam lasted as long as it did. he got 150 years for calling thousands of investors. we are told that he spoke candidly to lawyers who represented the victims and repeatedly apologized for his crimes. jonathan, even bernie madoff is surprised that he got away with it for this long? >> apparently so. one of the two attorneys that sat with him for those hours in that prison yesterday, he says that bernie madoff told him "there were several times that i met with the sec and thought that they had me." a clear implication from bernie madoff that he believes that the sec was asleep at the wheel. they have said that they are investigating how they missed this huge fraud. we will get the results next month. shepard: lawyers that spoke to him represented some of the victims. what did they say about getting the money back? >> and not good news for those the gums. after that interview, they did not have as much optimism for anybody getting all of the money
Jul 17, 2009 5:00am EDT
the nation's top stock cops look to learn the lessons of missing the bernie madoff rip-off. can the securities and exchange commission be more pro-active in hunting down fraud? plus, can retailers pass the back to school test? we look at the winners and losers in the retail world.. as parents and kids gear up for the new school year. and....the latest harry potter movie makes its way to theaters...why fans and studios are expecting a lot from the boy wizzard...these stories and more all ahead on this edition of first business. bahoric compound caught a bit friday on tap as the dow jones industrial average rallied almost 7 percent and a few weeks old loans and it is if three for friday as we hear from three financial companies in the u.s.. if a couple of them here bank of america and city group to set the tone for the market had one friday in looking ahead to next week if the date malcolm plans that will continue to support with caterpillar 3 m and coca-cola as the dow breaks above six month highs. we have to get too big of america and general electric that third one is a big fi
FOX News
Jul 29, 2009 1:25pm EDT
, or you can follow us on twitter at rick: bernie madoff speaking out from behind bars, telling a lawyer he was not surprised he was arrested. he said he was surprised he was not arrested sooner. we will tell you what else he had to say when we come back. having the right tools is crucial to being able to manage your diabetes properly. it's very important for me to uh check my blood sugar before i go on stage. being on when i'm feeling low can be like a rollercoaster. it does at times feel like my body is telling me to do one thing... and, my mind, my heart is telling me to do something else. managing my highs and lows is super important. with my contour meter i can personalize my high/lo settings so it really does micromanage where my blood sugar needs to be. i'm nick jonas and never slowing down is my simple win. you're ready for the mid-morning rush thanks to a good breakfast. one coffee with room, one large mocha latte. medium macchiato, light hot chocolate hold the whip, and two espressos. make one a double. she's fiber focused! i have
FOX News
Jul 29, 2009 2:25pm EDT
says he lost $5 million of his net worth with bernie madoff. martha: bernie madoff says he cannot believe they did not catchable. shepard: this guy says stopped talking to bernie madoff. he has ruined enough lives. this is the last segment i'm doing on bernie madoff. i'm done with him. and the counting fish -- what was phil keating doing? martha: they are counting the fish in the ocean. we have to go. see you at the top of the hour. back to you. rick: when we come back, a new study says tanning beds are not healthy. they are as deadly as poison. our medical expert is here to break it down with a brand new warning when we come back. . . i never thought i would have a heart attack, but i did. you need to talk to your doctor about aspirin. you need to be your own advocate. last month, this woman wasn't even able to get around inside of her own home. they chose mobility. and they chose the scooter store! if you or a loved one live with limited mobility call the scooter store! no other company will work harder to make you mobile or do more to guarantee your complete satisfaction. if we
Jul 14, 2009 11:00am EDT
where bernie madoff is now an inmate, he arrived a short time ago. we can show you tape of him arriving here. he was the second person off a bus after taking a long bus ride from atlanta. we are told by local prison officials, he is being housed in the medium security section of this sprawling prison complex. so he will be in with medium security inmates. that is not a particularly pleasant life. it also means visiting hours for his wife ruth or anyone else are limited as opposed to inmates in other parts of this facility. bernie madoff, 71 years old. we are told, again, went straight to the medium security section of the federal prison -- federal correctional complex here in butner, north carolina. we do not know how long he will be here in butner. of course, he was sentenced to 150 years in prison. whether this will be his permanent home or not is so far still to be determined. melissa? all right, scott, thanks so much. trish. >>> thanks, guys. when we come back, details off the goldman sachs conference call. >>> plus, will other big banks outperform this earning season? we're going t
Jul 29, 2009 12:00pm EDT
. did bernie madoff really spill his guts to a plaintiff's lawyer in prison after refusing to name names for so many months? we'll tuck to that lawyer live on cnbc in a first on cnbc interview coming up. >> wouldn't surprise me, because in the end, they always want to talk. let's get to market action. the major averages having their biggest three-day drop in as many weeks. oil getting pummeled. bob pi san see kicks it off at the new york stock exchange. roberto. here is the big question. we have been here before, weakness in the early part of the day, but markets have been resilient, keep coming back late in the day. so here is the market test. let's see if we can come back from this minor market set back here. let's look at the steel stocks, and folks, you knew wurp going to get smacked around with commodity names. mittal, not a full recovery, and u.s. steel and nipan in japan are weak. as are all commodity stocks. chinese stocks are weak, a 5% drop in shanghai today, so all of the big commodity names are weak, as well. finally, oil stocks, you combine collar strength, combine a big bui
Jul 17, 2009 9:00am EDT
on their wives? >>> and bernie madoff goes to jail, and we talked about this yesterday. we talk about the lus fur affect. madoff actually exhibits completely detached behavior from all other people. evil. how does it happen? we have a man that knows how it happens. it's 9:00 a.m., and it's time to get to the meeting. >>> good morning to you. let's start with the president striking back across the board again, whether it's the health care platform or the stimulus platform, the criticism of the lack of job creation in the economy. there is lots of vulnerability, the rhetoric is strong and the price tags are too high, and the results are mercky at this point. and savannah guthrie we have to talk about this. >> reporter: you can see the white house acknowledging that their most effective advocate is the president himself. last week we were overseas and the white house was battered on the stimulus and health care and things were not getting done and the stimulus would not be affective in terms of the creating jobs, and the president has been out every single day this week with the intensity, and almos
FOX News
Jul 4, 2009 11:30am EDT
that and a news flash. we have all been madoffed. why everybody investor is being hurt by bernie madoff. "cashin' in" starts right now. [captioning made possible by fox news channel] terry: a fourth of july tax revolt tens of thousands of americans rallying in over 1,300 tea parties. protesters have been warning about higher taxes hitting all of us for months all the while being mocked by politicians. >> the thing that bewilders me is the president just cut taxes for 95% of the american people so, i think the tea bags should be directed elsewhere. terry: do we have proof that their aim was right? welcome to "cashin' in." here is our crew it week. congratulations. wayne and jonathan are next. were they right all long along because we are hearing a story about a national sales tax and cap and trade and the like. >> that was the middle age version of muscle and body. but i'm glad they decided to do that. they are 100% right. i don't know what this guy is talking about and what planet he is living on cutting taxes. he has raises taxes on 95% of americans just on tobacco, alcohol. a 16-ounce loose-le
Jul 6, 2009 12:00am EDT
. the $65 billion fraudster bernie madoff is sentenceed to 150 years in jail. the ban on gay sex is overturned, but not everyone is happy. welcome to a review of the major news story seen on bbc "world news" over the past seven days. six years after american-led forces invaded oirk, president obama said they will withdraw from all the countries, towns and cities, but he warned that difficult days lay ahead. as iraq celebrated the u.s. withdrawal, a car bomb killed at least 25 people in kirkuk. the bbc's jim muir witnessed the events in baghdad. >> despite the bombs, an iraqi victory parade, all the top brass on hand to celebrate the last americans leaving baghdad and other cities. on the streets, jubilation, across the board, almost everyone here is glad to see the americans go. it means iraqis are back in charge. >> today we feel great pleasure mixed with deep sorrow. the pleasure of achieving something great and historic and sorrow for all the men, women and children who fell victim to the terrorists. >> as though to underline those feelings and fears, another big car bomb, thi
Jul 15, 2009 7:00pm EDT
funds be registered with the fcc. bernie madoff's funds were registered and also cheated thousands of investors so why would this work. >> he didn't register. the thing registered was a different business so this other business that was such a fraud was not registered, nobody knew about it. it only seems logical that if funds are put together whether you call them hedge funds or whatever there should be some authority that that's right to go in and look at the procedures within that fund and look at things such as how they price their securities, what conflicts of interest they have, etcetera, etcetera. >> susie: i'm sure you heard it said that we really don't need new regulation and structure we need smart regulators to enforce the rules we already have. what are your thoughts on that? >> there are a number of rules and regulations we don't have. a whole d derivative area that s gotten us in trouble and no oversight from stc and i think clear we need affective regulators and clearly we need we need people who are trained and again this is a problem and a challenge and opportunity
Jul 15, 2009 6:00am EDT
dollars he wrote who stole my soap to help people like bernie madoff but $20,000. >> $20,000. this is one of those really stories, really $20,000 to tell you what will happen in prison but there is a company in baltimore called the national or the american prison consultants and they actually worked with martha stewart and with bernie madoff. now they waived the fees for bernie madoff. he's the one who has fallen on tough times. >> his asset were frozen and he was a wall street scammer sentenced to 150 years away. here's what they do. they tell you about prison yards and what it is like. and most of these are taut by excons. this one in baltimore is not. the national center for institutions and alternatives but half a dozen over firms across the country are. one guy opened it up after the enron scandal. he teaches classes on close- quarter combat. and he calls himself an inmate adaptation specialist. but this is my favorite. in l.a. there's an excon that served ten years for drug trafficking, security violations and distribution of machine guns. he has a course called fed time 101. >> oh,
Jul 2, 2009 8:00am EDT
news" looked like after bernie madoff's sentence. big front-page story. listed as the pariah. rarely in memory has a man become such a planetary pariah. not a single person, no member of his family, no friend of a lifetime stepped forward to attest to madoff. they have warned of madoff. lawyer raised alarm and was pointed elsewhere. this is zachary goldfarb's piece. they warned superiors as far back as 2004 of irregular parking lots that bernie madoff's financial firm, but was told to focus on unrelated matter, according to agency documents and sources familiar with the investigation. genevievette walker-light foot, a lawyer in the s.e.c.'s office, suggested a set of questions to ask the firm. several questions directly challenged madoff's activities that turned out to be elements of his massive fraud. with the agency under pressure to look for wrongdoing in the mutual fund industry, she wasn't able to continue pursuing madoff and two people familiar with the investigation. this is a personal story for you. you were among those who were hit with madoff's scams. what's your reaction w
Jul 13, 2009 7:00pm EDT
bernie madoff goes to the crown jewel of the federal prison system. why not get co? fasten your seat belts, everybody. "the kudlow report" begins right now. >>> good evening, everyone. i'm larry kudlow. welcome back to the kudlow report, where we believe free market capitalism is the best path to prosperity. here's my keynote for tonight. banks surge and stocks follow, mostly on the heels of high expectations for trading firm goldman sachs, which really is more a hedge fund than a real bank. last thursday on kudlow's 101, i said banks are my favorite stock market sector. so i got it right one time in a row. with a steep upward treasury curve, even a banker can make money borrowing at near zero and lending at much higher rates. deposits are flowing into the big banks. mark to market reform permits cash flow valuation to replace fictional distressed market sales, which have unnecessarily crushed bank capital and profit. toxic assets can be funded by low rates for as far as the eye can see it. let's not forget that president obama who is the biggest government bond salesman in our natio
Jul 14, 2009 12:00pm EDT
of the year. >> i'm scott cohn in butner, north carolina. bernie madoff was accompanied to pensions, penthouses and villas. now he is making his home here, a tiny cell that may be his home for the rest of his life. >>> i'm jim goldman in cnbc's silicon valley bureau. better than 85% of intel's s business comes from overseas customers. shares are up almost 40% since march with some analysts believing this stock still has time to run. it will prove that point or send investors running. a preview coming up. >>> let's get to the markets.s. stocks staging the come back. energy shares gaining on the back of oil. bob pisani kicks it off at the new york stock exchange. bob, we've moved into positive territory. >> yes, 60 points in the dow from trough to peak right now, michelle. thanks very much. and is the important thing here, we're in the middle of earning season. generally companies today are beating the numbers, but look under the hood, and you will still see some weakness there. johnson & johnson is a good expect here. bolt line is they beat on the top line, but sales were down almost
Jul 14, 2009 7:00am EDT
of myself. also this morning, nbc news has learned bernie madoff is on the move. the convicted mastermind behind a massive ponzi scheme is being transported to a facility in north carolina. he'll begin serving his 150 year sentence. it's a place where the one-time billionaire can make up to 40 cents an hour doing various jobs. it's medium security. we'll have more on madoff's new home ahead. also we're hearing that the full toxicology report from michael jackson's autopsy could be released as early as this week. this as a key ruling is made when it comes to the late star's estate. we'll have the latest from los angeles coming up, as well. >> but we're going to begin with that terrifying emergency landing of a southwest airlines plane on its way from nashville to baltimore. nbc's tom costello has the details. tom, good morning to you. >> good morning. southwest airlines spent the night inspecting nearly 200 of its 737-300s after a hole opened up in this plane's skin. southwest flight 2294 took off from nashville at 4:05 eastern time on monday with 131 people on board the boeing 737-300. ab
FOX News
Jul 29, 2009 7:00pm EDT
could be enlisted and the confessed conman bernie madoff is in the cube again tonight. he is giving his first interview from the hoosegow. as it turns out, he thought the feds should have caught him sooner. so is he apologizing for his $65 billion scam? he will speak in a bit. applebee's 2 for $20! real food at the right price! this is the primo stuff. one appetizer and two premium entrees. just twenty bucks-every day. genuine food. generous portions. genius price. 2 for $20! only at applebee's. shepard: there is a new warning tonight of home-grown terror. homeland security is warning states to be on the lookout for american muslim extremists. it comes just two days after the feds busted a suspected terror group in north carolina. investigators say seven legal u.s. residents were gearing up for a violent holy war abroad. one suspect believed to be in pakistan still missing as fox reports tonight. and it seems authorities are now worried about trends involving similar groups of american extremists. jennifer griffin is working this for us from the pentagon tonight. she is in the cube. jen
Jul 23, 2009 8:00pm EDT
betrayed them. >> a 71-year-old man beyond reproach. bernie madoff, the man who made so many so rich for so long. the man who gave millions to charities and invested millions more on their behalf. >> the money disappeared. there's nothing to recover. >> gone. >> i've always expected madoff to blow. >> gone. >> that would have been my nest egg, but gone. >> $65 billion lost in the biggest ponzi scheme ever. how did he do it? where is the money? and how did it go on for so long? we'll take you inside his shadowy world. the wealthy communities now reeling. and the charities, some simply left with nothing. and you'll meet the few who questioned it all along but couldn't get anyone to listen. this is "the scam of the century: bernie madoff's crime and punishment." >> bernardo madoff will die in prison, sentenced to a term of 150 years. in court, bernie madoff apologized to his victims and acknowledged his words would provide them little comfort. over the next hour, we will unravel madoff's stunning web of deceit and take you inside a heart of darkness. madoff, a man capable of stealing from his
Jul 29, 2009 8:00pm EDT
bars for billionaire scammer. bernie madoff. the jailhouse interview. >> the paint signs and clerks. it's a long way from wall street. >> hear for the first tim what he said about the billion dollar scheme and what happened to all of that money. plus the battle over michael jackson's money. his mother takes on the big businessman controlling the half a billion dollar mistake andw l and will.i.a.m. was working on music with michael jackson. >> and rudy giuliani. >> what are your plans? >> after his first loss in years, michael phelps is back on top but yet another swimsuit controversy. >> hi, everybody, those are the big questions tonight. but we start, as we always do with the mash-up. our look at all of the stories making an impact right now. the moment you may missed today. we're watching it all so you don't have to. we began tonight with the woman whose 911 call triggered a racial firestorm. she's breaking her silence today. lucia whalen called the cops on henry louis gates. since then said she's living a nightmare because of reports that two black men tried to break into the home.
Jul 11, 2009 1:00pm EDT
a guilty hamster. hello, he said, i am bernie madoff, i am about to offer you an investment opportunity of a lifetime. end quote. i cringed. madoff had been in prison less than an hour and had made the classic rookie's mistake never set up a ponzi scheme during your first week. >> you are talking about our friend, the sattirist, comedian, funny guy, author of the new book, "who moved my soap" the ceo guide to surviving prison, the bernie madoff edition. you had to update your corporate crime book, so many guys keep coming down the pike, right, madoff was made for you wasn't he? >> absolutely. more and more, we have allen stanford, has been indicted see how that plays out. a very upbeat message for them, the book. i am just saying you are trading one gated community for another. don't worry. >> let me ask you about ruth madoff, could she possibly have been involved. she has not been charged. >> the fact that she didn't know wasn't plausible until we started hearing the stories about mark sanford, the governor of south carolina. >> that's right. right. bernie madoff did tell her he was hi
Jul 13, 2009 6:00pm EDT
confession sealed. >>> bernie madoff is being transferred to the security facility in north carolina. he was moved to this afternoon. last month, he was sentenced to 150 years in prison for defrauding billions of dollars from investors. >>> kim jong il has pancreatic cancer, it has been reported. they said they do not expect him to live more than five more years. some analysts are skeptical of these reports. >>> a passenger takes a picture of a bus driver reading while driving. but she was not fired. >>> it is a labor of love. why hundreds of volunteers came out here today and how they are honoring our fallen heroes. >>> we will tell you which town rates as the best small town in the country. >>> we are keeng an eye on this weather pattern. it is pretty nice. we will take a look at the next seven days went abc7 news p >>> in montgomery bus driver caught reading while driving is still employed. a rider snap several photographs of the driver apparently reading a book while driving in traffic and veering out of her lanes. this is a violation of policy, but the county uses progressive discip
Jul 14, 2009 11:00pm EDT
death was an accident. >>> bernie madoff is spending his first night in his new home. madoff arrived at the security prison in north carolina. he was transferred from a facility in manhattan. experts say his age, declining health, and the fact he could be targeted by inmates in other facilities are the reasons for his transfer to butler. >>> 376 of questions that sonia sotomayor faced today. >> people who watched the hearings say the questioning was tough, but the judge more than held her own. >> i do not base my judgments on my personal experiences or my feelings or my by cs. >> this woman watched most of the hearings and tonight she came together with other sonia sotomayor supporters. >> it is a celebration. we will wait to celebrate fully until she is confirmed. right now this is a good start. >> she is more tn a woman or a latina. >> today sotomayor and toward the most harsh questioning since she was nominated by president obama. >> this is as much as about barack obama as it is my son not sotomayor. >> the toughest questioning came over the idea she might be biased on the court
Jul 9, 2009 6:00pm EDT
not investigate, then he will. live from the john wilson building, sam ford, abc 7 news. >>> bernie madoff will not -- his sentence for defrauding billions of dollars. a judge sentenced madoff to the maximum sentence last week. today, his attorney said he has decided not to appeal the sentence, but would not explain why. >>> developing story of manassas, a composite sketch of a man believed to be responsible for two attempted abductions. he is described as an hispanic man and his late 30's, early 40's, with black crew cut hair. these incidents happened two weeks apart as the victims were walking to the community center. the victims were 16 and had blond hair. >>> coming up -- bodies are moved to make room for new business. startling allegations against a cemetery. >> the piano man and rocket man are coming to town. >> she said we broke all in north korea. >> one of the amerin journalists in north korea makes a phone call to her sister. >> partly cloudy and cool. the forecast is coming up. ,pp >>> 4 workers at historic black cemetery in chicago have been charged in a scheme to resell burial
FOX News
Jul 14, 2009 7:00pm EDT
. confessed to running the biggest investment scam ever. bernie madoff. today, they took him to where he will spend the rest of his days -- prison. north carolina. the bus carrying ex- finance year -- scam artists to bernie madoff has brought him to -- the bus carrying madoff arrived at a prison in north carolina today. his release date is in 2049. he pled guilty to a multimillion-dollar ponzi scheme that wiped out thousands. illinois. a new hot dog stand in chicago employees rebuild the ex- offenders, but it is the names felony francs that bothers people -- the name, "felony franks," an oasis certain people, like this aldermen. the owner is a businessman with a history of hiring ex- convict and he plans more outlets. oklahoma. a berkeley with a gift of four police. one suspect left his cell phones -- a burglary with a gift for the police. once a suspect left his phone. police in oklahoma says he said that the suspect stole jewelry, furniture, and sneakers, and now there is a request for help finding the suspect. that is the "fox watch across america." escaped prisoners -- one a convicte
FOX News
Jul 2, 2009 10:00pm EDT
for missing american soldier who disappeared. federal marshals taking possession of bernie madoff's $7 million penthouse. this forced his wife to move out and to leave her belongings behind. bernie madoff was sentenced to 150 years in prison. greta: things might be tight for your family this summer and you might not able to afford that family vacation but you might be paying for someone to jump off to paris in style. the funding of congressional trips has tripled since 2001. 13 million was spent to send our representatives abroad to the galapagos islands, italy, and paris. the rooms cost $500 a night. this is your money. we are joined by the washington bureau chief for "the the wall street journal." >> what happened is that the reporters went back and they looked over the spending bills and reports of congress to see what has been happening. it is what you say, this is a huge surge. in 2005, there was a new law that congress can no longer take free travel from lobbyists. now it is on the taxpayer. you would be surprised where they go. greta: like? >> the galapagos islands for one. this was don
Jul 3, 2009 5:00am EDT
reconciliation. the >>> $7 million penthouse that once belonged to bernie madoff and his wife is about to go on the auction block. ruth was booted from the house yesterday. officials plan to sell the property and virtually everything in it. the money will go to victims of the ponzi scheme. bernie madoff on monday was sentenced to hundred 50 years in prison. >>> a missouri mother was convicted of sending taunting messages to a teenage girl on myspace. the victim later hanged herself. conviction is being thrown out. >> it began in 2006 with a frantic 911 call. >> my daughter just hung herself. >> it is ending with a federal judge about to dismis the first cyber bullying conviction. the federal judge says the misdemeanor conviction probably is not constitutional. you can prosecute pretty much anyone who violates terms of service. federal prosecutors used a hacking lot to charge her with creating a myspace account. josh flirted with megan and then dumped her. >> shame on the u.s. attorney's office for bringing this. >> if this office -- this office will always take risks on behalf of children. >
Jul 14, 2009 6:00pm EDT
pay for this thing and why. >>> bernie madoff paying his debt to society. get a glimpse of the new big house he lives in. >>> and you know -- having a hard time. you may not hear that much. when you hear from the guy we talked with today, you might change your mind. weck'rbae in two. ba (bell ringing) woo-hoo!!!! woo-hoo!!!! woo-ho!!! woo-hoo!!!! kobak. mr. miller (announcer) everyone's heading to arby's for the official $5 combo of summer. featuring arby'sew bbq bacon cheddar roastburger with curly fries and a drink for only $5. big on bbq tastete, it's the $5 combo done better. when the paths we take do determine our future. today we are communicating with each other as never before - and that requires a seamless network that is constantly growing better, smarter, and more secure. that's why our scientists and engineers in our labs, are takg the fastest tenology in the world and making it mobile, better and faster - to keep pushing the intnet further than anye dreamed. last year alone we invested more in building america's future than any other company - improving and exp
Jul 14, 2009 6:00am EDT
and the dollar. >>> and it's a long way from manhattan's upper east side. bernie madoff is sent to a federal prison in north carolina called butner, as "squawk box" begins right now. >>> good morning, everybody, and welcome to "squawk box" right here on cnbc.. i'm becky quick along with joe kernen and carl quintanilla. our top story today takes us inside earnings central. goldman sachs reports second quarter opening results before the opening bell today. the financial powerhouse is s expected to post earnings of $3.50 a share on revenue of $10.7 billion. meredith whitney upgrading shares of goldman early yesterday before joining us on "squawk box" to explain why. >> it's a bearish call, but a bullish call on the stock. >> on the stock. >> just as you were talking about, you'll see a tsunami of debt issuance. where you think goldman would be a pure play equity trade, it's the number one underwriter of build america bonds, a top underwriter in munis, playing heavily in the mortgage-backed market. i think in the fist quarter, they played heavily in the markets. >> whitney thinks goldman sachs w
Jul 16, 2009 9:00am EDT
it out. we'll have that conversation. plus -- >> plus, bernie madoff adjusting to life behind bars with the help of a prison coach. the macro business in prison is apparently booming. maybe he can start a macroponzi behind bars. >>> and from paulson to cheney, many people are raising concern that is the government is operating in secret. who gets to decide when secrets are kept in a so-called democracy? >>> here is your business travel forecast. trouble spots, thunderstorms down here oklahoma, arkansas, and also afternoon storms from new york city northwards up to new england. atlanta today, some storms for you. chicago, looks fine. dallas, hot once again. i mentioned those thunderstorms around the new york area. phoenix and seattle, a nice warm day for you. (mom) i'm not going to be able to see her every day. or sit on her bed and talk about her day. but she's ready. thanks to walmart's unbeatable prices, i was able to get her everything she needed. as well as what she wanted. letting go? mom! (mom) that's the hard part. set them up for success, for less. save money. live better.
Jul 14, 2009 9:00am EDT
's going to be talking about bernie madoff and the challenges the agency face. she expects to get a report from an internal watching did on how the agency missed madoff's $65 billion ponzi scheme. she'll expect that report in the next six weeks. hanson pearson are s there as there are headlines he'll keep bringing them to you throughout the morning. right now, scott cone is on madoff watch outside the prison in north carolina. good morning, scott. >> good morning, erin, it stands to reason that the government t would want to pull off an operation like this very, very carefully. that operation being the moving of bernie madoff to this prison complex in nk butner, north carolina. he has left atlanta but the bureau of prisons will not confirm this is where he is headed. he weren't to attend some secrecy to this because bernie madoff is 71 years old, his health is questionable. he has a lot of information presumably that they can still get out of him and there are people who clearly don't like him, they want to move him as uneventfully as possible. that seems, together go on right now. this fa
Jul 14, 2009 6:30pm EDT
advisers. but schapiro cautied there will always be criminalsike bernie madoff o are caught aftethe fact. >> to some extent, all regulators, nojust the s.e.c., play cch up with the frdsters. and perhaps that wilalways be the unfortunate y for us to opere. >> reporter: lmakers like jackie speiealso press for stronger regulations on th cred rating agencies who ntributed to the credit crisis. >>hould there be some kind of liability at the rating agencies inc when they rate an a.i.g. as a triple-a, or a lehman at a-minus, and then two days later, both of thos institions are defunct? >> reporter: schapiro sa her agency is lookg at ways to increase competition amo ratings firms. and when asked, she said s mighsupport legislation to hold cret rating agencies liable when th don't do their mework by properly checking eir financial facts. >> i think priva liability would. could have a very important effect on the qualy ofhe efforts rating agencies are making. >> reporte the s.e.c.'s mistakes are also havi an imrtant effect on the quality of its efforts. every day, sapiro says, she thinks about ma
Jul 18, 2009 12:00am EDT
writing now. bce moff, -- bernie madoff, watch out. tavs: tracey ullman, showte, "state of the union." >> it is lovely to see yo you are charmg. tis: back in mont with a few prramming notes abo next week. stay with us. [phone rings] >> hello? well, wellscotty mcclellan. big man. e bush family's favorite pressed secretary. -- favorite press secrary. george is sleeping soundly. yes, well, he is aleep 16 hours a day when heas a prident. now he isp to 20. but i admite would he my head if he knew you when i started talking again. i am all right. tavis: quick notes about upcoming programs. my next week guts include one ofhe biggest selling author of all time, suspense novelt mary higgi clark. so, tony wiing broadway starruce jenner with. on monday and tuesday, i hope that you will join us for where explosive conversation withne of music's biggest superstars prints. e iconic artt has released a new 3-d set called "tus flower." here's a sneak previewof our conversatn with prince. as a kid being teasedso much, how did you grow out that into not just confidence but just excellence. bibb epith
Jul 7, 2009 5:00am EDT
with the lynn group. online items online at first business x dot com, can the victims of bernie madoff actually expect to get money back? a legal pro who works with victims of financial fraud shares his strategy for the scam of the century. in addition, more insights on what all investors can learn to avoid falling victim to similar scams. plus, state budgets in crisis. as legislatures work down to the wire, we examine how last- minute spending plans are affecting the economy. and still to come on the show, more on the u-s economy from the state's perspective as we pull out the map to locate where the bad banks do their business. more than 50 banks have failed this year, making it the worst year for bank failures since 1992. while depositors haven't lost money, the seizures by the federal depository insurance corporation have costs hundreds of millions of dollars. michael iannaccone runs mdi investments, a financial services analysis firm. michael welcome back to the program. thank you. talk to was about the scope of this problem number of banks is a growing severity? is growing in severity
Jul 21, 2009 5:00am EDT
-profile miss of the bernie madoff ponzi scam. we continue our conversation with merri jo gillette, the regional director in chicago with the s-e-c. chairman of the sec has said that we open to investors is and shall be we'll adapt our ways and learn from past errors and undue not repeat them. what are some bills adaptations that the chicago office will room the chicago office is really him in sync with it the changes that are being made nationally. we have really increased and tried to focus our efforts in areas of investor education and outreach. on the enforcement side we continue to evaluate every evaluate what's coming through the door, and the reason i say reevaluate this that the criteria for what may be risk factors is entered depending on what's happening in the rest of the world. we need to constantly reevaluate what that is. are the tools that are available to use sufficient to could do the job that you will like the agency to do? i'd think we can do better. there are a number of additional tools that we are looking at in terms of process within the division of enforceme
Jul 30, 2009 5:00am EDT
and exchange commission went for years without detecting the biggest ponzi scheme in history...the bernie madoff multi-billion dollar rip off. robert khuzami has been the director of enforcement at the securities and exchange commission since february. and while he's reluctant to draw any conclusions ahead of the inspector general's report, he has been trying to rebuild the stock cops reputation. before becoming the top stock enforcer, khuzami was the top lawyer for deutsche bank. tomorrow, more on how that experience shaped his approach to enforcement. sometimes for an institution overall they're just not able to make sure that everything they do and everybody who works with them operates on the right side of the law. i can tell you that we're not winning the wrong for that report and responding as some of the things that could be improved so dead end in a couple of weeks of my arrival i set of nine advisory groups have to look at every aspect of the division operations from specialization to management structures and processes to metrics end cut didn't task of scrubbing deep into the d
Jul 15, 2009 7:00am EDT
considers michael jackson's death a homicide. >>> as bernie madoff wakes up for the first time as an inmate we'll talk exclusively with the man who helped him prepare for life behind bars early this wednesday morning, july 15th, 2009. captioning funded by cbs >>> good wednesday morning, everyone. i'm maggie rodriguez, along with harry smith in new york. julie is off today. >> the all-star game was last night in st. louis. the american league won, which is only right. >> oh. >> oh golly. talk about a repeat -- >> look who was there. >> it will be repeated over and over again. he got it there. that's what counts. >> love the jacket. >> did you like that jacket. >> white sox. >> from chicago. also ahead, we'll be speaking exclusively with the man who was hired by bernard madoff's attorney to help decide which prison would be best for him and what goes on in prison. this morning, herb hoelter will take us inside a day in the new life of bernard madoff. >> first, breaking news. as a caspian jet liner with 168 people on board crashes in northwestern iran. all passen
Jul 2, 2009 7:00pm EDT
.5 million manhattan penthouse owned by bernie madoff is now in the hands of the feds. the apartment was seized today, along with its contents, to be used as restitution for madoff's victims. his wife ruth had been living there; she was evicted. on monday, madoff was sentenced to 150 years in prison for bilking investors out of billions of dollars. >> paul: the long holiday weekend got off to a bad start for passengers of united airlines, especially at chicago's o'hare airport. test test. ys. because o'hare is hub for united, there was a domino effect, causing delays all around the country. by late afternoon, things were more or less back to normal. >> susie: here's a look at what's happening tomorrow and next week: tomorrow, u.s. financial markets are closed ahead of the independence day holiday. next week, our friday "market monitor" guest is robert drach, editor of the "drach weekly research report." on the economic calendar: monday, it's the i.s.m.'s june non-manufacturing index; tuesday, dow component alcoa kicks off earnings season with its second quarter results; and thursday,
Jul 10, 2009 8:00pm EDT
bernie madoff. >> they are talking -- unchanged. things on the table. max baucus was talking about taxing wealthy benefits. that seems to be off the table. >> what is what the? >> to london and 50,000 or above? >> the value of the benefits. -- 250,000 or above? >> the value of the benefits. and the other option is going back to the obama proposal, which is charitable deductions for people who make more than 2 budget and $50,000. so everything is back on the table to try to fill the gap. >> at the same time, you have the sotomayor hearings starting next week, and republicans still have not agreed to let the hearings go on in the afternoon when the senate is doing business. and it is not clear to me how obstructionist they are going to be and whether they will pay a penalty if they are. i am not sure they figured it out, either. this is not a three-ring circus in washington come of this is a 10-ring circus. supreme court confirmation hearing, health care, crime bill, we've got all the stuff on foreign policy. >> senator al franken, if you please, and soon-to-be former gov. sarah palin. >> i
Jul 28, 2009 11:35pm EDT
back, bernie madoff is the subject of tonight's "closing argument."
Jul 28, 2009 11:35pm EDT
. >> and reportedly up next for art smith, the dalai lama himself. >>> when we come back, bernie madoff is the subject of tonight's "closing argument." ( sighs ) ( music throughout ) hey bets, can i borrow a quarter? sure, still not dry? i'm trying to shrink them. i lost weight and now some clothes are too big. how did you do it? simple stuff. eating right and i switched to whole grain. whole grain... studies show that people who eat more whole grain tend to have a healthier body weight. multigrain cheerios has five whole grains... and 110 calories per lightly sweetened serving. more grains. less you. multigrain cheerios.
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